Saturday 13 Apr 2024
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KUALA LUMPUR (Feb 5): Malakoff Corporation Bhd, an energy generation and environmental solutions company, has recently achieved a milestone by securing a “Gold” Impact Assessment from Malaysian Rating Corporation Bhd (MARC Ratings) for its sustainable finance framework.

In a statement on Monday, Malakoff stated that the framework is designed to support its company's green and renewable energy (RE) projects through the Asean Sustainability SRI Sukuk Murabahah programmes.

This marks a step in Malakoff’s commitment to environmental sustainability and its efforts to transition towards a low-carbon economy.

The framework will guide Malakoff in raising funds through sustainable debt instruments, such as green bonds and loans, to finance projects that promote a more inclusive and resource-efficient economy, in line with the United Nations (UN) Sustainable Development Goals (SDGs) and the circular economy concept.

Meanwhile, this framework has been recognised for its alignment with major standards, including the Sustainable and Responsible Investment Sukuk Framework of the Securities Commission Malaysia, Green Bond Standards, Social Bond Standards and Sustainability Bond Standards of the Asean Capital Markets Forum, as well as guidelines from the International Capital Market Association.

Its "Gold" rating underlines the potential social and environmental benefits of the projects financed, supporting 12 of the 17 UN SDGs.

Malakoff managing director and group chief executive officer Anwar Syahrin Abdul Ajib expressed satisfaction with this achievement, emphasising the company's dedication to expanding its RE portfolio and forming strategic partnerships.

“Over the past two years, we have laid a strong foundation to transform Malakoff into a sustainably conscious organisation, supporting Malaysia's move towards a cleaner and more sustainable economy,” he said.

“We have achieved significant progress in the RE sector by partnering with local and international industry leaders and investors, particularly focusing on expanding our presence in solar and mini hydro installations, as well as the utilisation of carbon-neutral fuel such as biomass,” he added.

“This recognition not only reaffirms our commitment but also acts as a catalyst, motivating us to contribute meaningfully to the nation's goal of achieving net-zero emissions as early as 2050 while ensuring the preservation of Malaysia’s energy security,” he said.

With the establishment of Malakoff Green Solutions, the company now boasts an RE portfolio of 153 megawatts, including large-scale and rooftop solar projects, small hydropower generation, and carbon-free mobility infrastructure.

This initiative underscores Malakoff's commitment to enhancing life and enriching communities through sustainable energy solutions.

Edited ByIsabelle Francis
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